Salary Needed to Live in Racine as a Retiree
A retired individual (65+) needs approximately $17,809/year to live comfortably in Racine, WI — including 5% savings.
Comfortable Salary
$17,809
with 5% savings
Bare Minimum
$16,605
no savings buffer
Monthly Expenses
$1,024
15% below national avg
Detailed Monthly Budget for a Retiree in Racine
| Expense | Racine | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $79 | $121 | -35% |
| 🛒 Groceries | $12 | $16 | -25% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $17 | $18 | -6% |
| 🛡️ Car Insurance | $186 | $211 | -12% |
| 🏥 Health Insurance | $55 | $53 | +4% |
| Medicare Supplement | $172 | $200 | -14% |
| Prescription Drugs | $129 | $150 | -14% |
| Internet + Phone | $103 | $120 | -14% |
| Recreation & Social | $172 | $200 | -14% |
| Home Maintenance | $86 | $100 | -14% |
| Total Monthly | $1,024 | $1,204 | -15% |
How We Calculated the Salary
Monthly expenses:$1,024
Target savings (5%):$58/mo
Monthly after-tax needed:$1,082
Effective tax rate:26%
Gross annual salary needed:$17,809
Other Household Types in Racine
Related Pages
FAQ
What salary does a retiree need in Racine?
A retiree needs approximately $17,809/year ($1,484/month gross) to live comfortably in Racine with a 5% savings rate.
How much is rent for a retiree in Racine?
A 1-2br senior-friendly in Racine costs approximately $79/month, which is the largest single expense at 8% of the total budget.
Is Racine affordable for a retiree?
Yes, Racine is 15% more affordable than the national average for a retiree.